Heineken beats consensus forecasts despite weak Europe

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13-02-2013 10:00

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Heineken reported fourth-quarter pro forma net profit of 1.7bn euros, beating the 1.63bn analyst estimate.

Revenue settled in at €18.4bn, ahead of the €18.3bn consensus forecast.

Due to the weak demand registered in Europe, the beer-maker's biggest market, Heineken is concentrating on increasing volume and revenue in emerging markets.

Chief executive Jean-François Van Boxmeer said that European governments' actions to battle budget deficits makes the region an "unpredictable environment" for its business.

"It's very difficult to predict in which direction it'll go, but I'll tell you one thing: It doesn't do good things for our business," he explained.

Heineken rose 3.37% to €53.70 in morning trade in Amsterdam.

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